Comment on the June 15 prediction: We haven’t seen a price hike since June 8, so the prediction was CORRECT.
Wednesday, June 29, 2016, 9:00PM: Hey Matt in Lansing! This one is for you …. In the past three weeks, we’ve seen retail prices in Michigan fall from $2.79 to down to close to $2. That’s because wholesale prices were artificially high earlier in the month due to a short-term supply squeeze, and #Brexit hasn’t helped the energy markets much the past week. However, the last two days, we’ve seen some recovery in the wholesale price, while retail prices continue to drop, and we are near price-reset territory. Throw in a Thursday before a 3-day holiday weekend, and the best bet is that we see prices rise on Thursday. $2.49?
There is enough margin on price we should be good to go without another spike in the foreseeable future.
Ever wonder why premium has gotten so much more expensive in recent years? Gas Buddy analyst Patrick DeHaan was interviewed by my favorite car magazine. Enjoy!
Comment on the June 1 and 7 predictions: CORRECT and CORRECT, as prices soared the first half of June.
June 15, 2016, 7:30PM: After the crazy hikes the first week of June, fueled by the new normal of refinery and pipeline issues, wholesale prices have fallen hard this week, and I expect retail prices to follow. My estimate of the 0-cent margin price is $2.28 this evening, and retail prices are much higher right now. So, don’t be in a rush to fill up, and we should be good into next week. — Ed A.
Comment on the May 25 prediction and post: CORRECT about no hike, but WRONG about giving @onetoughnerd credit for playing The Gas Game. The quote was actually from GG Alum Patrick DeHaan. Holy Antecedent Error!
June 1, 2016, 8:30PM: New month and wholesale prices reset … higher. We saw a 7 cent jump in Chicago wholesale prices today, and the same jump in ethanol prices. Meanwhile, retail prices have been slipping, so we have entered the price hike zone. To top it off … tomorrow is Thursday. Fill up by 10AM! — Ed A.